e1option - Name: _ ACCT306 Fall2009 Exam1Optional...

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Name: __________________________________ ACCT 306 Fall 2009 Exam 1 – Optional Monday, October 26, 2009 DUE MONDAY, NOVEMBER 2, 2009 – Beginning of Class (5:30pm) - NO EXCEPTIONS MAX 70 POINTS (20 Points per Question) 1 - Helmer Sporting Goods Company manufactured 100,000 units in 20X5 and reported the following costs: Sandpaper $ 32,000 Leasing costs - plant $ 384,000 Materials handling 320,000 Depreciation - equipment 224,000 22,400 Property taxes - equipment 32,000 Indirect manufacturing labor 275,200 Fire insurance - equipment 16,000 Direct manufacturing labor 2,176,000 Direct material purchases 3,136,000 Direct materials, 1/1/X5 384,000 Direct materials, 12/31/X5 275,200 Finished goods, 1/1/X5 672,000 Sales revenue 12,800,000 Finished goods, 12/31/X5 1,280,000 Sales commissions 640,000 Work - in - process, 1/1/X5 96,000 Sales salaries 576,000 Work - in - process, 12/31/X5 64,000 Advertising costs 480,000 Administration costs 800,000 Required: a. What is the amount of direct materials used during 20X5? b.
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e1option - Name: _ ACCT306 Fall2009 Exam1Optional...

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